Posts Tagged ‘Terry Putney’

Buying Out Retiring Partners

Surveys tell us a huge percent of accounting firms are facing the prospects of partners retiring in the near future. In most cases, this is going to lead to the need for the firm to buy the equity of the retiring partner, usually in the form of paying out capital and retirement or deferred compensation…

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Preparing Your Firm for an Upstream Merger or Sale

With all of the merger activity in the accounting profession today, there is a good chance your firm has been approached to consider an upstream merger or sale. Perhaps you are seeking that as a way to address strategic needs your firm has such as the pressure to provide succession for soon-to-retire partners. Keep in…

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Preparing Your Firm to Grow Through M & A

We find firms seeking to grow using mergers and acquisitions often start the process with too little advance preparation. This can lead to many false starts. In the worst case scenarios it can lead to: 1) failing to close a deal your firm would have benefitted from or 2) a failed merger. This blog summarizes…

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Bridging the Gap-The Conclusion

On behalf of the members of the CPA Consultants’ Alliance, I hope you have enjoyed and benefited from our 2015 blog series focused on the central theme of Bridging the Gap-Strengthening the Connection Between Current and Emerging Leaders. The membership of the CPA Consultants’ Alliance is comprised of many of the top thought leaders in…

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Bridging the Gap: Staying Independent vs. Selling or Merging

Most of the firms we work with on succession planning start off with a strong preference to remain independent, and not sell or merge in order to address the need to payoff and replace retiring owners. The common reasons we are given for this inclination are- Control-Most owners of small to mid-sized CPA firms like…

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People at the Center of CPA Firm 2015 Top Issues

The CPA Consultants’ Alliance (CPACA), a group of thought leaders working together to further leadership within the CPA profession, recently held its annual meeting to discuss the most pressing leadership challenges facing the CPA profession and identify solutions to address these challenges.  Following the meeting, CPACA members were asked to comment on the single most…

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Can You Afford to Buy-out the Retiring Partners of Your Firm?

Many firms are struggling with the prospects of paying retirement buyout payments for their senior partners who will be retiring in the next few years. In some cases, several partners will be receiving retirement buyouts simultaneously. The financial burden can seem daunting. As we have emphasized in earlier blogs, make sure you first have the…

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When Should You Commence the Execution of Your Succession Plan

A key factor in successful transition of clients, as a partner moves toward retirement, is how dependent the client has become on the individual, rather than dependent upon the firm.  In most firms, retirement benefits for partners are dependent upon the number of clients that remain with the firm. So, it is important that you…

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